Solana’s Solayer Protocol Introduces LAYER Governance Token with Support from New Non-Profit Foundation
The post Solana’s Solayer Protocol Introduces LAYER Governance Token with Support from New Non-Profit Foundation appeared on BitcoinEthereumNews.com.
The Solayer protocol on Solana is carving a niche in the DeFi landscape as it attracts significant support and introduces its governance token, LAYER. With the backing of a newly formed independent non-profit foundation, the Solayer Foundation, this innovative restaking protocol aims to enhance the efficiency of staking on Solana. “To support the next phase of our journey, we are thrilled to announce the Solayer Foundation,” stated Solayer Labs, emphasizing their commitment to scaling solutions within the Solana ecosystem. Solayer’s launch of the LAYER governance token and the establishment of the Solayer Foundation marks a significant evolution in Solana’s staking mechanisms, promoting enhanced rewards for users. Solayer: A New Player in the Solana DeFi Space with Governance Token LAYER The emergence of Solayer as a prominent restaking protocol on the Solana blockchain is generating considerable interest within the cryptocurrency community. Modeled after Ethereum’s successful EigenLayer, Solayer allows users to reallocate their staked assets across various actively validated services (AVSs). This innovation not only maximizes potential earnings for stakers but also strengthens the overall liquidity and utility of the Solana ecosystem. The Role of the Solayer Foundation in Advancing Staking Innovations Recently, Solayer Labs announced the establishment of the Solayer Foundation, an independent non-profit designed to enhance protocols focused on scaling solutions for the Solana Virtual Machine (SVM). This strategic move underscores Solayer’s commitment to creating sustainable and scalable DeFi solutions. The foundation will facilitate a framework for better governance and development of the protocol, leveraging community inputs to drive growth effectively. Understanding the LAYER Token and Its Implications for Solayer’s Future The introduction of the LAYER token, an SPL-2020 governance token, is pivotal for Solayer’s strategic roadmap. Initially, LAYER will empower token holders to participate in governance aspects, ensuring that decisions for protocol developments reflect community interests. According to Solayer…
Filed under: News - @ January 2, 2025 8:25 pm